SMM March 7 News:
This week, tungsten prices continued to decline, market activity remained sluggish, and trading volume was limited, with most enterprises adopting a wait-and-see attitude.
During the week: the negotiated price of 55% black tungsten concentrate fell from 140,500 yuan/mtu to 138,500 yuan/mtu; the negotiated price of APT dropped from 210,000 yuan/mt to 209,000 yuan/mt; and the negotiated price of tungsten powder decreased from 315 yuan/kg to 314 yuan/kg.
As mining enterprises gradually resumed operations, the supply of raw materials in the market increased. Smelters mainly focused on fulfilling long-term contracts, with relatively few spot orders. Meanwhile, due to sufficient inventory levels at downstream enterprises, purchase willingness was low, resulting in weak overall market demand and continued sluggish tungsten prices. However, industry insiders pointed out that downstream inventories are expected to last until mid-to-late March, at which point market demand may rebound, providing some support for tungsten prices.
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